• About Us
  • Contact Us
  • Privacy Policy
  • Write For Us
  • Cookie Policy
Wednesday, April 14, 2021
The Islamic Information
  • Home
  • News
  • Blogs
  • Stories
  • More
  • Kids and Moms
  • Duas
  • Advertise
  • Write For Us
No Result
View All Result
  • Home
  • News
  • Blogs
  • Stories
  • More
  • Kids and Moms
  • Duas
  • Advertise
  • Write For Us
No Result
View All Result
The Islamic Information
No Result
View All Result

Home » Blogs » Is Islam Allows Buying House On Bank Loan or Not ?

Is Islam Allows Buying House On Bank Loan or Not ?

by Staff Desk
January 20, 2018
Reading Time: 2 mins read
0
Islam Allows Buying House On Bank Loan or Not

Photo: PEXELS

Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

Buying house is a dream of every individual, but achieving this dream is not that easy as it seems. Some people take bank loan when buying the house for themselves. But what Islam says about this? Does it permit it or not? This article will answer this question of yours.

House is the basic necessity of a person. You are blessed if you have your own home. So, every person tries to buy his/her own house at any cost. Someone tries to save money by buying house, someone borrows money from relatives. There is nothing wrong with these options these are halal. But then someone who is not in the position to save money and borrow from relatives then he or she decides to take a loan from the bank to buy own house. But many of them remain to confuse either it is halal to take the loan from a bank or not? So, no problem we are here to discuss it. And try to figure out the most authentic answer. 

When you take a loan from the conventional bank they give you the loan on the interest basis. Or you can say they give you the loan on the Riba system. You have to give them the fixed rate of interest for the whole period of the loan or the whole age of loan. And when we hear the word of interest then obviously we should understand that this is not our type of interest. This is haram and prohibited by Islamic rules. To live in a rental house is more good rather than to live in own interest base loan house.  

RELATED STORIES

14 Duas From Quran Are Essential For Different Health Problems

14 Duas From Quran Are Essential For Different Health Problems

March 19, 2021
Is it permissible to hit children for the sake of education

Is it permissible to hit children for the sake of education?

March 12, 2021

But everything has an alternative. So now we talk about another type of loan from the bank you can use while buying house. Non-conventional or Islamic banks grant interest-free loan which is called goodly loan or in simple language it is called qard-e-hasna. They just give you an interest-free loan. You have to return the actual amount loan neither less nor more. Their aims are to follow the Islamic rules. So if we take the goodly loan from a bank to buy the house then there is nothing wrong with it. Always keep your journey towards halal. ALLAH will definitely show His mercy in your favor. 

Get Islamic Articles and News!

Get Islamic News and Articles in your Inbox.

Your email
RELATED POSTS
Tags: BankBlogsLifeLoan
ShareTweetSendShare

Related Posts

Two Ramadans in 2030
Blogs

There Will Be Two Ramadans in 2030

April 10, 2021

People are used to having one Ramadan and Eid al Fitr in a year, but in 2030 there will be...

Longest and Shortest Fast duration Ramadan
Blogs

Longest And Shortest Fast Duration All Around The World – Ramadan 2021

April 7, 2021

The blessed month of Ramadan is nearly here. Ramadan is one of the most significant months in Islam as it...

Ways To Celebrate The Start of Ramadan
Blogs

6 Ways To Celebrate The Start of Ramadan 2021

April 7, 2021

Ramadan is one of the most important months in Islamic history. Ramadan countdown suggests that this year this month will...

Sunnah Prevents Brain Damage in NewBorns
Blogs

Science Proves Prophet Muhammad’s Sunnah Prevents Brain Damage in NewBorns

March 30, 2021

As we have discussed previously, the scientifically proven sunnah of Prophet Muhammad PBUH, the sunnah of Tahnik, has also been...

Coronavirus Change Ramadan 2021
Blogs

5 Things Will Change in Ramadan 2021 Because of Coronavirus

March 29, 2021

Ramadan 2021: The world is going through a global lockdown; the duration of this situation is yet uncertain. Thus, we...

Coronavirus Vaccine Will Not Break Fast in Ramadan
Blogs

Getting Coronavirus Vaccine Will Not Break Fast in Ramadan, Scholars

March 22, 2021

During Ramadan, it is safe for Muslims to get a coronavirus vaccine as it will not break the fast, declared...

Next Post
Full Story of Prophet Lut (AS) Biography and All Life Events

Full Story of Prophet Lut (AS), Biography and All Life Events

Follow Us

  • Facebook
  • Twitter
  • Instagram
  • YouTube

the islamic information google news

Trending

  • Ramadan Countdown

    Ramadan Countdown 2022: Days Left in Ramadan 2022

    0 shares
    Share 0 Tweet 0
  • Longest And Shortest Fast Duration All Around The World – Ramadan 2021

    0 shares
    Share 0 Tweet 0
  • Important Dua To Recite Before Ramadan Month Starting

    0 shares
    Share 0 Tweet 0
  • These are the 7 Biggest Sins in Islam As Mentioned in Quran

    11 shares
    Share 0 Tweet 0
  • Best Dua for Job with Success, Perfect Dua for Getting Job

    6898 shares
    Share 0 Tweet 0
  • Hajj 2021 To Take Place As Usual With No Limits, Saudi King Assures

    0 shares
    Share 0 Tweet 0
  • 6 Ways To Celebrate The Start of Ramadan 2021

    0 shares
    Share 0 Tweet 0
  • Indian Reality Show Star Saqib Khan Leaves Showbiz For Islam

    0 shares
    Share 0 Tweet 0
  • These Are The Minor Signs Of The Judgement Day

    18 shares
    Share 0 Tweet 0
  • Science Proves Prophet Muhammad’s Sunnah Prevents Brain Damage in NewBorns

    0 shares
    Share 0 Tweet 0

the islamic information logo

The Islamic Information is your authentic platform for getting Islamic Articles, News, Duas, and much more.

Important Links

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
  • Donate
  • Cookie Policy

Translate

  • About Us
  • Contact Us
  • Privacy Policy
  • Write For Us
  • Cookie Policy

© 2021 The Islamic Information - All Rights Reserved - Duplication Not Allowed

No Result
View All Result
  • Home
  • News
  • Blogs
  • Stories
  • More
  • Kids and Moms
  • Duas
  • Advertise
  • Write For Us

© 2021 The Islamic Information - All Rights Reserved - Duplication Not Allowed

NewslettersGet Exclusive Islamic Updates! (We never spam!)
Your email

Never see this message again.

Our website is using cookies. By allowing to use our website you will be giving consent to cookies being used. Visit our Privacy and Cookie Policy.